TON Technical Analysis: Is the Coin Headed for a Downward Trend?
TONcoin has recently entered a downtrend, with lower highs and lower lows. The MACD and RSI indicators are both giving sell signals, and a Death Crossover can be seen on the short-term chart. Coin Codex’s most recent price forecast predicts that the price of Toncoin will increase by 6.57% and reach $2.35 by February 16, 2023. The Fear and Greed Index is currently at 49 (Neutral), and the coin has experienced 14 out of 30 (47%) green days with 3.64% price volatility over the past 30 days.
For investors, the coin may be a good purchase once it breaks out of the consolidation zone or when it reaches its support level. The resistance level is currently at $2.571, and the support levels are at $1.946 and $1.190. However, it is important to note that investing in or trading crypto assets comes with a risk of financial loss.